Portuguese, Chinese cos eye privatisation of Serbian wine-maker – fin min

Vrsacki Vinogradi is one Serbia's 175 companies under restructuring, for which the country has to find a solution within a year and a half, Dinkic said in a statement published on the ministry's website. After that there will be no repeated restructuring or subsidies, he added.

Vrsacki Vinogradi (www.vvinogradi.co.rs) owns 1,700 hectares of vineyards in the northeast of Serbia and a wine cellar with a capacity of 34.2 million litres. The company posted in 2011 a revenue 582 million dinars ($6.8 million/5.1 million euro), up 3.3%, but widened its net loss to 300.7 million dinars from 2.5 million dinars a year earlier.

Serbia failed to privatise Vrsacki Vinogradi in two privatisation attempts in 2002 and 2004, data from the country’s Privatisation Agency show.

(1 euro=113.4251 Serbian dinars)